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International Aircraft Registration Treaty Takes Off

Connecticut Law Tribune

November 17, 2008

There’s a relatively inexpensive, expedient and well-settled process for taking and perfecting a lien on so-called “traditional” collateral such as inventory and equipment. It involves, in most instances, filing a UCC-1 with the Secretary of the State in the state of debtor’s location. In contrast, the process of taking a security interest in and perfecting a lien on an aircraft or helicopter requires multiple filings, additional time, increased costs and a careful analysis of state and federal law, as well as, perhaps, the law of the jurisdiction where the aircraft or helicopter requires multiple filings, additional time, increased costs and a careful analysis of state and federal law, as well as, perhaps, the law of the jurisdiction where the aircraft or helicopter is to be located and operated.

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